UK retail sales see weak growth in July

From BBC News

Retail sales grew only slightly last month, as cash-strapped consumers remained under pressure, figures show.

Sales volumes excluding petrol rose just 0.2% in July, a slowdown on the 0.8% increase in June, said the Office for National Statistics (ONS).

Sales of household goods, clothing and footwear all declined.

Consumer spending continues be affected by a number of factors, including higher inflation, job losses and limited wage rises.

Inflation in July, as measured by the government’s preferred Consumer Prices Index, increased to 4.4% from 4.2% in June. This is more than double the 2% target rate.

Meanwhile, the number of people unemployed in the UK rose by 38,000 to 2.49 million in the three months to June.

Read More…

Categories: UK

Leave a Reply